Refund of Input Tax (VAT)
You can record a journal voucher for input tax refund.
- Gateway of Tally > Vouchers > press F7 (Journal).
Alternatively, press Alt+G (Go To) > Create Voucher > press F7 (Journal). - Press Alt+J (Stat Adjustment) , select the options as shown below:
- Type of duty/tax – VAT.
- Nature of Adjustment – Refund of Input Tax.
Note: Based on the selection made for Nature of Adjustments, the Additional Details option either appears or disappears.
- Press Ctrl+A to return to the voucher.
- Debit the ledger grouped under Current Assets enter the amount.
As always, press Alt+C, to create a master on the fly. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > press Enter. - Credit the input VAT ledger. The journal voucher appears as shown below:
- Accept the screen. As always, you can press Ctrl+A to save.
The states with Refund of Input Tax available as the Nature of Adjustment are given below:
|
State Name |
Additional Details |
Voucher Entry |
|
Andhra Pradesh |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Assam |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Bihar |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Chandigarh |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Chhattisgarh |
Not Applicable |
Debit: CST ledger. Credit: Ledger grouped under Current Assets. and Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Refund Claim |
Debit: CST ledger. Credit: VAT ledger. |
|
|
Dadra and Nagar Haveli |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Delhi |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Goa |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Gujarat |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. Credit: Additional tax ledger. |
|
Haryana |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Jammu and Kashmir |
Not Applicable |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
Jharkhand |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Karnataka |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Madhya Pradesh |
Received from others |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Refund Order |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
Self |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
Specified Period |
Debit: Party ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
Transferred to others |
Debit: VAT ledger. Credit: Ledger grouped under Current Assets. |
|
|
Maharashtra |
Refund Order |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Odisha |
Not Applicable |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Rule 65 |
Debit: VAT ledger. Credit: Ledger grouped under Current Assets. |
|
|
Rule 66 |
Debit: VAT ledger. Credit: Ledger grouped under Current Assets. |
|
|
Puducherry |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Punjab |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. Credit: Surcharge ledger. |
|
Telangana |
— |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Uttar Pradesh |
Not Applicable |
Debit: Expenses ledger. Credit: VAT ledger. |
|
Refund Order |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
West Bengal |
Refund Claim |
Debit: Ledger grouped under Indirect Expenses/Current Assets. Credit: VAT ledger. |